Natural gas futures could not shake their losing ways on Thursday. Weak weather, strong production and another anemic storage print sent prices lower a third consecutive day.

At A Glance:

  • Production falls to 97 Bcf/d
  • Forecasts for mixed demand
  • NGI models draw of 41 Bcf

The February Nymex gas futures contract settled at $2.944/MMBtu, down 12.3 cents day/day. It marked the first front month close below $3 since mid-2021. March shed 6.7 cents to $2.848.

NGI’s Spot Gas National Avg. dropped too, falling $1.735 cents to $3.585.

[Where are natural gas prices headed this summer? Understand current market fundamentals and what they might mean for prices down the road by watching NGI’s recent webinar, “Outrunning the Bear: Summer Natural Gas Pricing & Fundamentals.” Watch the...